Economic Affairs Committee Meets May 5 on Venture Capital, Work Comp

The Economic Affairs Interim Committee will hear four approaches to
increasing venture capital availability in Montana on Wednesday, May 5,
during a meeting that will feature both economic development in Montana
and
ways to simplify workers compensation. The meeting starts at 8 a.m. in
Room
137 of the State Capitol.

A. Bart Holaday will give an overview of current Montana venture
investments
by Adams Street Partners, a firm hired by Montana’s Board of
Investments to
invest state money in venture and other funds.

Alternative approaches
will
be discussed by: Mike Arpey and Kelly Williams from Credit Suisse First
Boston, a firm that manages venture investments for Oregon’s pension
funds;

Gingee Prince of Enhanced Capital Partners, who works with states to
use tax
credits to entice investments from venture funds called CAPCOs; and
Robert
Heard and Stephen Ringlee, who work with states on Fund of Funds
legislation, which uses state guarantees of loans and deferred
contingent
tax credits to provide venture funds.

After the presentations the Committee will discuss whether to proceed
with
legislation on any of these approaches.

Also on the agenda is discussion regarding how the Economic Affairs
Committee will address simplification of workers’ compensation laws.

Included in the approaches are whether to incorporate Supreme Court
decisions regarding occupational disease into workers’ compensation
statutes
and whether to adjust the number of exemptions granted under the
Workers’
Compensation Act.

Both tasks are part of a simplification study
assigned to
the Economic Affairs Committee after the 2003 legislative session. The
committee also will hear an update on issues related to the Montana
State
Fund.

Other agenda items include a review of a Montana Supreme Court decision
regarding stacking of insurance policies. For details on this and other
agenda items, check the committee website:
http://leg.state.mt.us/css/committees/interim/2003_2004/econ_affairs/default
.asp or call Pat Murdo, committee staff, at 406-444-3594.